While it includes some performance and graphics concessions on the lowest priced model, the 21.5-inch iMac brings Apple's iconic design and top-notch bundled accessories and software to a wider audience.

Apple skips 4K and goes directly to what the company calls a 5K display in this expensive, extravagant all-in-one iMac desktop that will appeal to photo and video professionals -- or anyone else looking for the best possible screen resolution.

Anyone who bought last year's redesigned iMac doesn't need to upgrade, but for owners of older models or anyone looking to switch, the latest 27-inch Apple iMac offers a wide-ranging set of internal upgrades.

Apple's $1,199 iMac doesn't offer the same home entertainment features as Windows-based all-in-ones, but its speed, looks, and the future utility of its Thunderbolt port make it a strong choice for performance-sensitive professionals.

Apple on Thursday announces updates to its popular iPad line as well as to its desktop computers and operating system. It also reveals that Apple Pay will launch next Monday for consumers. The event comes one month after the company debuted its new line of iPhones and Apple Watch. CNET.com's Kara Tsuboi reports.